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PhonePe’s revenue growth and profitability indicate that the company could list within the next couple of financial years. Read👇 https://t.co/cq7Hdasiwb #PhonePe #UPI #DigitalTransactions @BhavyaDKumar @AnandJRAnand
PhonePe diversification strategy pays off, high revenue growth likely to sustain https://t.co/eTOM8XiLvu by @BhavyaDKumar & @AnandJRAnand
Earlier this week, PhonePe said it has become profitable, excluding non-cash expenses like ESOP costs. One underplayed aspect is that the company planned to reach operating profitability in 2025. So it has accelerated profitability while still growing topline at 74% yearly.…
PhonePe has reported significant financial growth for the fiscal year 2023-24, ending March 31, 2024. The company's revenue surged by 74% to reach INR 5,064 crore, compared to INR 2,914 crore in the previous fiscal year. Additionally, PhonePe achieved an adjusted profit after tax (PAT) of INR 197 crore, a notable turnaround from a loss of INR 738 crore in FY22-23. This profitability excludes costs related to Employee Stock Options (ESOP). The company attributes its financial success to cost efficiency and product diversification, which have been instrumental in driving growth and diversification of revenue. These achievements position PhonePe for a potential public listing in the coming years.